Market Infrastructure

Fintech / Regtech

DTCC Offers New Tool to Facilitate LIBOR Transition

By Editors | 16/03/2023

Widespread usage of the tool will be “an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.

Market Infrastructure

Singapore Consults on Adjustment Spreads for Legacy SIBOR Contracts

By Editors | 15/03/2023

Steering Committee proposes to have a period of active transition until 30 April 2024, before banks initiate an industry-wide automatic conversion process around June 2024.

Market Infrastructure

FSC to Ease Rules to Help Korean FIs Expand Overseas

By Editors | 15/03/2023

New FSC taskforce will work on measures to help FIs expand and invest overseas and address issues that prevent global firms from entering the Korean market.

ESG / Sustainability

European Banks to Undergo Climate, Cyber Stress Tests

By Mark Johnston | 15/03/2023

European regulators have been asked to conduct a one-off climate risk scenario analysis. The ECB separately plans to launch a thematic stress test on cyber resilience.

Fintech / Regtech

ICMA Releases New Bond Data Taxonomy

By Editors | 14/03/2023

The Taxonomy will enable firms to more easily leverage new technologies, streamline issuance and post-trade operations, and exchange data.

Big Picture

IMF Proposes Global Marketplace for Trading Between CBDCs

By Mark Johnston | 14/03/2023

A global marketplace for trading tokenised money such as CBDCs would reduce the need for bilateral trust relationships and improve cross-border payments.

Market Infrastructure

Cuban Banks Have Adopted Russia’s Mir Card Scheme

By Editors | 14/03/2023

ATMs now display the logo of the Mir payment system and provide an option to withdraw funds in Cuban pesos from cards issued by Russian banks.

Market Infrastructure

HK to Amend Clearing Rules to Account for IBOR Reforms

By Editors | 13/03/2023

Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.

Market Infrastructure

CSRC Finalises New Cybersecurity Rules for Securities, Futures Industry

By Editors | 12/03/2023

The rules include requirements relating to stress testing, data backups, emergency response measures, and management of third-party suppliers.